Economy
Finance Ministry affirms progress in debt restructuring talks with creditors
The ministry of finance has affirmed that ongoing negotiations regarding debt restructuring with creditors have not culminated in failure. Through a tweet, the ministry clarified that an interim agreement has been reached between Ghana and bondholders, but adjustments are necessary to align with IMF debt sustainability targets. “Ghana and Bondholders reached an interim deal, which […]
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Banking & Finance
CalBank launches GH¢600m rights issue
By Ebenezer Chike Adjei NJOKU (ebenezer.njoku@thebftonline.com) Indigenous financial services provider, CalBank is aiming to raise GH¢600 million in fresh capital through a renounceable rights issue. This capital injection will aid the lender’s recovery from the effects of the Domestic Debt Exchange Programme (DDEP) and fuel its future growth plans. The move will offer existing shareholders […]
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Health
Stuck medicines at the port to be cleared by middle of April – Global Coordinating Mechanism
Despite millions of dollars invested in Ghana’s health systems to combat HIV, tuberculosis, and malaria, life-saving drugs and healthcare products for these ailments have been stuck at the Tema Harbour for over ten months. For those who depend on these medicines, the continued delay in clearing these medications put their lives at risk. Ghana is […]
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Columnist
The public debt crisis (1): Lessons for the present and the future
By Dr. Richmond ATUAHENE Abstract The present paper examines the issue of the current Ghana’s public debt crisis, its underlying causes and lessons for the present and the future. After providing a historical discussion, we show that the austerity of the last four years has been unsuccessful in stabilizing the debt while, at the same […]
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Business
GSE seeks tax incentives to boost investor participation
By Ebenezer Chike Adjei NJOKU ebenezer.njoku@thebftonline.com The Ghana Stock Exchange (GSE) is pushing for the reinstatement of the capital gains tax exemption on listed securities, with Managing Director Abena Amoah confident it would deepen investor participation and solidify the bourse’s gains. She believes the tax break, coupled with tax incentives for listing companies, would significantly […]
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Economy
Gov’t advancing debt restructuring efforts – Fin. Minister
By Joshua Worlasi AMLANU In a comprehensive update on Ghana’s debt restructuring programme, Finance Minister Dr. Mohammed Amin Adam has highlighted the government’s ongoing efforts to restore fiscal sustainability and foster economic recovery. Speaking at a press briefing, the Minister emphasised the significance of upcoming discussions with bondholder representatives to advance restructuring engagements. “In the […]
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General
UEW adopts Dext Science set to prepare teacher trainees for STEM education
Dext Technology Limited, a prominent education technology company in Ghana, has signed a memorandum of understanding with the University of Education, Winneba to enhance trainee teachers’ access to practical STEM tools. Through this partnership, Dext Technology Limited and the University will collaborate to explore various opportunities, including direct supply of STEM tools to the Department […]
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Business
Over GH¢300m judgement debt paid between 2017 and 2022
The government paid a total of GH¢300,385,317.52 as judgement debt between 2017 and 2022. The Ministry of Finance made this known in an updated information on judgement debt payment dated August 2023. The Ministry revealed that the payments were made to over 60 individuals and organisations. For instance, in 2017, Albert Osei was paid GH¢279,412.83; […]
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Editors' picks
Navigating food inflation: the role of Ghana’s Buffer Stock in ensuring food security
By Sanusi Zankawah (PhD) The surge in food prices has placed significant strain on consumers and has raised concerns about food security. In response to these challenges, Ghana’s government has implemented various measures, including the establishment of a buffer stock system, to mitigate the impact of food inflation and ensure the availability of essential commodities. […]
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General
Golden Star Wassa commences $1m development projects for host communities
Golden Star Wassa Ltd, through its Golden Star Development Foundation, on Thursday, February 1, 2024, cut sod to commence a series of development projects in its host communities. The beneficiary communities are Akosombo, Akyempim, Brofoyedur, Kubekro, Odumasi, Accra Town, Old Subri, Juaben, and Anyinabriem. The projects are estimated to be more than one million US […]
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postorder brud värt det?
Everyone loves myself enough to want someone that likes me-too
Everyone loves myself enough to want someone that likes me-too Really, if you’re when you look at the a section of the nation where there try partners lesbians, a post-order bride-to-be would be recommended BTW that house is unbelievable. I’m not sure easily could stay in for example a great added particularly an awful country. […]
Banking & Finance
Banks remain resilient – BoG
Recapitalisation efforts on track, profitability rebounds Stability Fund offers additional support Bank of Ghana Governor Dr. Ernest Addison has stated that recapitalisation of banks following the Domestic Debt Exchange Programme (DDEP) should continue without any significant hitches, on account of their performance in 2023, as well as the Ghana Financial Stability Fund (GFSF). Speaking during […]
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International
China tightens stock market rules after sell-off
China has tightened its financial industry rules as the government tries to halt a deepening sell-off in the world’s second-largest economy. Nearly $6tn (£4.7tn) has been wiped off Chinese and Hong Kong stocks since their most recent peak three years ago. The China Securities Regulatory Commission (CSRC) says the measures will create “a fairer market […]
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Banking & Finance
World Bank Group welcomes Debt Restructuring agreement
The World Bank Group yesterday, in principle, welcomed the agreement on key parameters of the proposed debt restructuring for Ghana reached by the Official Creditors’ Committee under the G20 Common Framework. This agreement, which is consistent with the Joint WB-IMF Debt Sustainability Framework, represents a critical milestone toward restoring debt sustainability in the country. “This […]
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Economy
Momentum builds on external debt restructuring efforts
The government is urgently seeking to build on the momentum of its debt restructuring efforts, following the recent agreement with official creditors to restructure debts extended to the country up until December 2022. Having overcome this hurdle, Reuters reports that government officials will re-engage with its international bondholders from next week, seeking to continue discussions […]
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Business
IMF bailout: Govt reaches agreement with Official Creditors on debt treatment
The government has announced that it has reached an agreement with its Official Creditors in restoring debt sustainability in line with the International Monetary Fund (IMF) programme targets. The government is seeking to secure the 2nd tranche of the IMF bailout after securing the 1st tranche in 2023. The government embarked on a Domestic Debt […]
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